Ethereum News Update

After failing to break above $800.00 for more than a week, Ethereum prices finally caught a tailwind on Tuesday morning, soaring as high as $914.83.
This was a record high for the Ethereum to USD exchange rate.
The Ethereum to Bitcoin rate, meanwhile, also rose 13.59% to 0.06439940 BTC. Clearly, money is flowing from Bitcoin to altcoins. You can see this rotation reflected in the BTC Dominance ratio, which shows that Bitcoin’s market share has fallen to 36.1%.
You can also see it in the Ripple price. XRP prices have more than doubled in the last week, a sign that investors are starting to appreciate value-creating cryptos rather than straight up currency plays.

Daily Ethereum Chart

Over the long haul, this shift might favor Ethereum.
Why, you ask?
Well, Ethereum is not like Bitcoin at all. It is a platform that developers can use to create decentralized applications. These would function as regular apps do, except that data would not flow through central servers controlled by corporations or governments.
Instead, the data would sit on a blockchain created by thousands of disparate computers, waiting to be unlocked by our cryptographic keys. This end goal of Ethereum—to become a “world computer”—offers real value to businesses of all varieties.
For example, an energy consortium brainstormed 200 applications that could help their businesses run more efficiently. (Source: “Energy Sector Turns to Ethereum to Test Blockchain,” Coindesk, May 30, 2017.)
They have yet to implement those ideas, but the mere fact that Ethereum carries that capability is an indication of its versatility and usefulness.
There’s also the Ethereum Enterprise Alliance (EEA), which is perhaps the most important corporate voice in the blockchain space. It boasts mega-names like JPMorgan Chase & Co. (NYSE: JPM), Microsoft Corporation (NASDAQ: MSFT), and Cisco Systems, Inc. (NASDAQ: CSCO). All of them are working to develop use-cases for blockchain.
And yes, they plan on using Ethereum.

Analyst Take

There is virtually no debate about the fact that Ethereum generates real value, so if the explosion in Ripple prices is any indication, we could see ETH prices resume their upward momentum in the near term. As such, we maintain our $1,500 Ethereum price forecast for 2018.
Also Read: Ethereum Price Prediction for 2018

Ethereum Price Forecast: ETH Roars Back to Life with 15% Gains

Ethereum News Update

After failing to break above $800.00 for more than a week, Ethereum prices finally caught a tailwind on Tuesday morning, soaring as high as $914.83.

This was a record high for the Ethereum to USD exchange rate.

The Ethereum to Bitcoin rate, meanwhile, also rose 13.59% to 0.06439940 BTC. Clearly, money is flowing from Bitcoin to altcoins. You can see this rotation reflected in the BTC Dominance ratio, which shows that Bitcoin’s market share has fallen to 36.1%.

You can also see it in the Ripple price. XRP prices have more than doubled in the last week, a sign that investors are starting to appreciate value-creating cryptos rather than straight up currency plays.

Daily Ethereum Chart

Over the long haul, this shift might favor Ethereum.

Why, you ask?

Well, Ethereum is not like Bitcoin at all. It is a platform that developers can use to create decentralized applications. These would function as regular apps do, except that data would not flow through central servers controlled by corporations or governments.

Instead, the data would sit on a blockchain created by thousands of disparate computers, waiting to be unlocked by our cryptographic keys. This end goal of Ethereum—to become a “world computer”—offers real value to businesses of all varieties.

They have yet to implement those ideas, but the mere fact that Ethereum carries that capability is an indication of its versatility and usefulness.

There’s also the Ethereum Enterprise Alliance (EEA), which is perhaps the most important corporate voice in the blockchain space. It boasts mega-names like JPMorgan Chase & Co. (NYSE: JPM), Microsoft Corporation (NASDAQ: MSFT), and Cisco Systems, Inc. (NASDAQ: CSCO). All of them are working to develop use-cases for blockchain.

And yes, they plan on using Ethereum.

Analyst Take

There is virtually no debate about the fact that Ethereum generates real value, so if the explosion in Ripple prices is any indication, we could see ETH prices resume their upward momentum in the near term. As such, we maintain our $1,500 Ethereum price forecast for 2018.

Dear Reader: There is no magic formula to getting rich. Success in investment vehicles with the best prospects for price appreciation can only be achieved through proper and rigorous research and analysis. We are 100% independent in that we are not affiliated with any bank or brokerage house. Information contained herein, while believed to be correct, is not guaranteed as accurate. Warning: Investing often involves high risks and you can lose a lot of money. Please do not invest with money you cannot afford to lose. The opinions in this content are just that, opinions of the authors. We are a publishing company and the opinions, comments, stories, reports, advertisements and articles we publish are for informational and educational purposes only; nothing herein should be considered personalized investment advice. Before you make any investment, check with your investment professional (advisor). We urge our readers to review the financial statements and prospectus of any company they are interested in. We are not responsible for any damages or losses arising from the use of any information herein. Past performance is not a guarantee of future results. All registered trademarks are the property of their respective owners.